Nielsen Australian Millennial Report March 2017 Reports
(including GST)There has been a significant amount of research into the Millennial generation, who seem to be an enigma for many companies attempting to tap into their increasingly large buying potential. They’re a new breed of consumer, who have been labelled as the social media generation, the ‘me’ generation, the selfish and even the lazy generation.
So just how true are these Millennial stereotypes and labels? This report highlights five of the most common myths associated with this generation and dispels them through insightful data and reasoning, while exploring what makes them unique.
Millennials are becoming a new powerhouse of consumers who are more educated, connected and demanding than their parents. Their lives are in consistent states of transition as they join the workforce, move into new homes and start their own families. They are constantly busy, distracted and alert.
In 2016 this lucrative group was worth 7% of the Australian food and grocery retail market and by 2021 their market share will jump to 17%. This 10 percentage point rise over five years means Millennials will account for retail growth of $6.1 billion, demonstrating their immense future buying power. Tapping into this growth opportunity will rely on companies understanding, engaging and delighting these enigmatic consumers.
Millennials are ready to be a part of the conversation if you’re willing to listen./reports/nielsen-millennials-report-march-2017
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